Britain’s largest producer of fiberglass, a key component in wind turbines and electric cars, is reportedly set to shut down in part due to the high energy costs in the United Kingdom. [emphasis, links added]
The Japanese-owned Electric Glass Fiber UK factory in Wigan, which employs around 250 people, is said to be set for closure after the left-wing Labour Party government failed to organize a buyout from Tokyo-based Nippon Electric Glass owners.
According to the BBC, the owners claimed that the factory operated at a £12 million loss last year due to increased competition from Chinese manufacturers, low sales, and the soaring cost of energy in Britain.
Britain currently has some of the most expensive energy prices in the world, in large part as a result of the very same green agenda, which the Electric Glass Fiber UK factory assisted via its production of the critical component to wind turbines and electric cars.
While defenders of ‘Net Zero’ in the UK, such as cabinet minister Ed Miliband, have attempted to cast blame for the sky-high energy prices on the global price shocks following the coronavirus and the Russian invasion of Ukraine, Westminster’s green agenda [worsens] many of these issues, with traditional forms of energy being taxed to subsidize so-called renewable forms of energy.
Additionally, while global price fluctuations do impact the price of natural gas and oil in Britain, the country is more vulnerable to such international pressures because the British government refuses to tap into the nation’s resources, such as through the banning of fracking upheld by both establishment parties in London.
The promised financial benefits of energy sources like wind power have also been hampered by Britain’s outdated grid and inability to efficiently store excess energy during peak weather.
Thus, the taxpayer is forced to pay wind energy firms millions to turn off their turbines so as not to overload the system.
On top of demonstrating the inherent follies of the green agenda, the planned closure of the Electric Glass Fiber UK factory further undermines the Labour government’s claims of seeking to reindustrialize Britain.
The London-based Tegu investment firm said that it was in negotiations to purchase the plant from Nippon. However, their request to have the government underwrite £5 million in dancing for the deal was ultimately shot down.
Tegu chairman Jack Khan told the Financial Times: “The fundamental issue here is that the UK government is standing by and watching British industry collapse.”
Top image of fiberglass wind turbines via History Of Simple Things/YouTube screencap
Read more at Breitbart
As I read this, the heading could have been about Australia, because the same things are happening here. We have a huge aluminim smelter at a place called Tomago (in the state of NSW) and for those who don’t know, these plants need a lot of electricity; it must be cheap and always available. However, the price of electricity here is off the charts and this plant could close, It employs 5,000 people and up to 12,00 including indirect workers.
We have a government very similar to the UK.. Socialst, left-wing, woke, save the planet mob who are sending our country broke. In addition, we have ended up on the wrong side of President Trump, who has done a wonderful job sorting out Iran. But, our government isn’t too sure about that. They have been preaching constraint, cease fires, two state solutions…… and our dumb prime minister has yet to meet President Trump face-to-face. Can you believe that? POTUS was inaugurated January 20 and here it is, June 24 !!! No meeting and our PM does not seem to care??
Way too bad that someone is losing their Jobs over the High Cost of Energy Production over this scam called Global Warming/Climate Change